Novem Group bought a new position in shares of Brown & Brown, Inc. (NYSE:BRO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,552 shares of the financial services provider's stock, valued at approximately $771,000.
Several other institutional investors also recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC bought a new position in shares of Brown & Brown during the 4th quarter valued at about $28,000. Johnson Financial Group Inc. lifted its position in shares of Brown & Brown by 534.1% in the fourth quarter. Johnson Financial Group Inc. now owns 279 shares of the financial services provider's stock worth $29,000 after buying an additional 235 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in Brown & Brown by 122.7% during the fourth quarter. Y.D. More Investments Ltd now owns 294 shares of the financial services provider's stock valued at $30,000 after buying an additional 162 shares during the last quarter. R Squared Ltd bought a new position in Brown & Brown during the fourth quarter valued at approximately $31,000. Finally, SBI Securities Co. Ltd. purchased a new position in Brown & Brown during the 4th quarter valued at approximately $37,000. 71.01% of the stock is owned by hedge funds and other institutional investors.
Brown & Brown Price Performance
BRO opened at $110.93 on Thursday. The business has a fifty day moving average of $115.91 and a 200 day moving average of $111.15. The stock has a market cap of $31.79 billion, a P/E ratio of 32.06, a PEG ratio of 2.93 and a beta of 0.87. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a 52-week low of $85.97 and a 52-week high of $125.68.
Brown & Brown (NYSE:BRO - Get Free Report) last issued its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). The company had revenue of $1.40 billion for the quarter, compared to analysts' expectations of $1.41 billion. Brown & Brown had a net margin of 20.68% and a return on equity of 17.81%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. As a group, sell-side analysts anticipate that Brown & Brown, Inc. will post 4.18 EPS for the current year.
Brown & Brown Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Shareholders of record on Monday, May 12th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. Brown & Brown's dividend payout ratio is currently 16.71%.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on BRO shares. The Goldman Sachs Group cut Brown & Brown from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $126.00 to $119.00 in a report on Tuesday, May 13th. Truist Financial decreased their price target on shares of Brown & Brown from $138.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group increased their price objective on shares of Brown & Brown from $105.00 to $109.00 and gave the company a "hold" rating in a research report on Friday, April 11th. Barclays lifted their price objective on shares of Brown & Brown from $119.00 to $121.00 and gave the stock an "equal weight" rating in a research note on Friday, April 11th. Finally, Edward Jones assumed coverage on shares of Brown & Brown in a research report on Wednesday, April 16th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Brown & Brown has an average rating of "Hold" and a consensus price target of $116.85.
Check Out Our Latest Analysis on Brown & Brown
Brown & Brown Company Profile
(
Free Report)
Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.
Further Reading
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